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International Monetary Fund. Western Hemisphere Dept.
This IMF Staff Report for the 2016 Discussion on Common Policies of Eastern Caribbean Currency Union (ECCU) Member Countries highlights that the regional recovery in ECCU is gaining ground, supported by continued low oil prices, strong tourism arrivals, and robust citizenship-by-investment receipts. Risks to the near-term outlook are balanced, but growth in the ECCU continues to be hindered by weak competitiveness, banking sector fragilities, susceptibility to natural disasters, and large public debt. The Executive Directors have encouraged the authorities to press ahead with sound macroeconomic policies and structural reforms to decisively address these issues and strengthen the conditions for robust long term growth.
International Monetary Fund

2010. XIV. Technical Assistance : 2012 May 2012: AFRITAC-Central mission on cash-based accounting February 2012: FAD mission on Customs, diagnostic and modernization January 2012: STA mission on quarterly national accounts 2011 December 2011: FAD mission on PFM October 2011: FAD mission on broadening the tax base August 2011: FAD tax mission: on segmentation of taxpayers August 2011: STA mission on quarterly national accounts April 2011: STA mission on national

International Monetary Fund. African Dept.

public debt management January 2013: FAD mission on tax and custom administration 2012 October 2012: MCM-World Bank mission on public debt management May 2012: AFRITAC-Central mission on cash-based accounting February 2012: FAD mission on Customs, diagnostic and modernization January 2012: STA mission on quarterly national accounts 2011 December 2011: FAD mission on PFM October 2011: FAD mission on broadening the tax base August 2011: FAD tax mission: on segmentation of taxpayers

International Monetary Fund. African Dept.

quarterly national accounts 2011 December 2011: FAD mission on PFM October 2011: FAD mission on broadening the tax base August 2011: FAD tax mission: on segmentation of taxpayers August 2011: STA mission on quarterly national accounts April 2011: STA mission on national accounts statistics March 2011: FAD mission on tax / customs administration diagnostic January 2011: FAD mission on PFM 2010 November 2010: STA mission on quarterly national accounts November 2010: FAD mission on

International Monetary Fund. Western Hemisphere Dept.

) regime was reviewed; a presumptive tax was designed for implementation in FY17; the VAT threshold was increased to EC$400,000 effective Feb.1, 2016; and advice on property tax reform was provided; Dominica – the CIT regime was reviewed; a presumptive tax was designed; and an increase in the VAT threshold was proposed; Grenada – support was provided to reform the tax incentive regime, culminating in the enactment of legislation which is now under implementation. Legislation to support the changes is yet to be fully implemented; Anguilla – a joint CARTAC/FAD tax

International Monetary Fund

increased transparency of customs procedures applicable to it; and the introduction of a “fiscal lottery” to provide incentives to consumers to request their VAT receipts. The government has been discussing these measures with affected parties in order to elicit their cooperation in the tax collection effort. 17. The authorities noted their intention to adopt additional measures during 2001 to streamline the tax system and strengthen revenues, along the lines suggested by the 1999 FAD tax mission. The government plans to introduce changes to the presumptive income tax

International Monetary Fund

issue a resolution to convert the existing Large Taxpayer Unit (LTU) into a fully empowered LTU as specified by the recent FAD tax mission in Section IV.F of its report on “Further Reform of Tax Policy and Administration.” The issuance of such decree will be a structural performance criterion for end-September 2002. Incooperation with the Fund staff, we will also conduct a review of the impact of Free Economic Zones on investment, tax revenue, exports, and employment by end-September 2002. In the context of the 2003 budget, we will consider amending the funding

International Monetary Fund
Adverse terms-of-trade developments and an unfavorable external environment have contributed to Paraguay's lackluster economic performance. Executive Directors observed the fiscal slippages, weaknesses in national accounts calculations, the statistical coverage of public enterprise operations and external tariffs, and stressed the need to tighten monetary and fiscal stances, and accelerate structural reforms. They welcomed the new strategy under the staff-monitored program, the improvement in the balance of payments, money, the central government's finances, and the country's progress toward meeting the General Data Dissemination Standard.
International Monetary Fund. African Dept.
KEY ISSUES Context. Cameroon’s macroeconomic outlook and risks have deteriorated slightly since the Article IV consultation in 2013. Economic activity has remained strong and inflation subdued, but the fiscal position has worsened; public debt has been rising at a less sustainable pace; government deposits have dwindled; and payment delays have continued. The anticipated growth path may not suffice to reach upper-middle-income country status by 2035. Focus of the consultation and risks. The overarching policy issue remains unchanged: how to set Cameroon on a higher growth path, while mitigating low but growing risks to macroeconomic stability. Spillovers from regional insecurity have become the main exogenous risk; endogenous risks stem from rising contingent liabilities and credit concentration. Past policy advice remains relevant. Key policy recommendations: • Strengthen cash management and expenditure controls to prevent a further accumulation of payment deferrals. • Close the financing gap in 2014, and adopt a downward path for the non-oil primary deficit to rebuild fiscal space and preserve macroeconomic stability. • Improve non-oil revenue by broadening the tax base and streamlining tax exemptions. • Reprioritize public expenditure by reducing fuel subsidies gradually; provide targeted compensation measures for the most vulnerable. • Increase the selectivity of investment projects and adopt a rigorous screening of the financing terms to ensure debt sustainability. • Pursue the resolution of three small distressed banks and support the strengthening of regional bank and microfinance supervision. • Promote higher and more inclusive growth through better targeted educational and social spending, a propitious business climate, and deeper regional integration.
International Monetary Fund. African Dept.
This 2015 Article IV Consultation highlights that Cameroon’s economy has shown resilience in the face of the twin shocks of the oil price slump and heightened security threats, with the robust growth of 2014 continuing into 2015. Growth is broad-based and projected to reach 5.9 percent in 2015, buoyed by increased oil production and the performance of sectors benefiting from the ongoing public investment boom. Total revenue is projected to increase in 2015, owing to a strong performance in non-oil revenue. Growth is projected to moderate to 5.2 percent in 2016, as oil production stabilizes.